. Suppose you are a fund manager managing a stock portfolio. On March 25, you are worrying about the risk from the fluctuated market and decide to use the E-mini S&P 500 Future (The multiplier is $50) with maturity of June 2020. The historical data of your portfolio, Emini S&P 500 Future price and S&P index are shown in data.xlsx file.

a. Please analyze the data and describe your hedging strategies.

b. If you want to change your portfolio Beta to 0.5, what will you do?

c. If you decide to use tailing hedge, how do you adjust your strategy?